Abstract
Delays and cost overruns are recurrent in construction projects. Risk management (RM) has been
developed to curtain risks
associated with construction projects. However, there is no consensus of what factors should
constitute RM for construction projects. Therefore, this paper scrutinises preceding studies on the
theme of RM and establish core risk management factors (RMFs) that are indispensable to make the
concept valuable in the construction industry (CI). A literature search related to RM was conducted
in order to identify common RMF. It was indicated that there is still misunderstanding and
disagreement over the factors that should constitute RM in construction. However, the RMFs of
organisational environment, defining objectives, resource requirement, risk measurement, risk
identification, risk assessment, risk response and action planning, communication, monitoring,
review and continuous improvement dominate the literature. Identifying RMF that can effortlessly be
understood and implemented will
contribute to ameliorating the current RM status and boosting the body of knowledge.